Mackenzie Financial Corp Sells 1,109,590 Shares of Stantec Inc. (NYSE:STN)

Mackenzie Financial Corp lessened its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,703,599 shares of the business services provider's stock after selling 1,109,590 shares during the period. Stantec comprises approximately 1.2% of Mackenzie Financial Corp's holdings, making the stock its 13th biggest holding. Mackenzie Financial Corp owned about 8.51% of Stantec worth $779,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Stantec during the third quarter worth $26,000. Advisor Group Holdings Inc. acquired a new position in shares of Stantec in the fourth quarter worth about $26,000. PNC Financial Services Group Inc. boosted its holdings in Stantec by 137.2% in the second quarter. PNC Financial Services Group Inc. now owns 759 shares of the business services provider's stock valued at $50,000 after purchasing an additional 439 shares during the last quarter. US Bancorp DE grew its stake in Stantec by 144.4% during the 1st quarter. US Bancorp DE now owns 765 shares of the business services provider's stock valued at $38,000 after purchasing an additional 452 shares in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in Stantec during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 63.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STN. Atb Cap Markets downgraded shares of Stantec from an "outperform" rating to a "sector perform" rating in a research report on Thursday, February 29th. StockNews.com lowered shares of Stantec from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $105.00.

Stantec Stock Performance

NYSE:STN traded down $0.58 during trading hours on Monday, reaching $79.64. 54,586 shares of the stock were exchanged, compared to its average volume of 109,668. Stantec Inc. has a 52 week low of $56.49 and a 52 week high of $87.53. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $9.08 billion, a P/E ratio of 36.20 and a beta of 1.04. The firm has a 50 day simple moving average of $83.00 and a 200-day simple moving average of $76.16.

Stantec (NYSE:STN - Get Free Report) TSE: STN last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). Stantec had a return on equity of 16.50% and a net margin of 5.11%. The firm had revenue of $912.51 million for the quarter, compared to the consensus estimate of $891.12 million. As a group, sell-side analysts forecast that Stantec Inc. will post 3.15 earnings per share for the current fiscal year.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.1548 per share. The ex-dividend date is Wednesday, March 27th. This is a positive change from Stantec's previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a dividend yield of 0.78%. Stantec's dividend payout ratio is 25.91%.

Stantec Company Profile

Stantec Inc provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally. It offers evaluation, planning, and designing infrastructure solutions; solutions for sustainable water resources, planning, management, and infrastructure; environmental services; integrated architecture, engineering, interior design, and planning solutions for buildings; and energy and resources solutions.